Revenue Update on Connecticut Water Service Inc(NASDAQ:CTWS)

Connecticut Water Service Inc(NASDAQ:CTWS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $27.59M. Analysts estimated a revenue of $27.19M. Earnings per share were $0.89. Analysts had estimated an EPS of $0.72.

Connecticut Water Service Inc (CTWS) made into the market gainers list on Wednesdays trading session with the shares advancing 0.75% or 0.37 points. Due to strong positive momentum, the stock ended at $49.41, which is also near the day’s high of $49.79. The stock began the session at $48.94 and the volume stood at 43,915 shares. The 52-week high of the shares is $56.615 and the 52 week low is $33.3. The company has a current market capitalization of $555 M and it has 1,12,31,037 shares in outstanding.

Connecticut Water Service Inc. is a non-operating holding company. As of December 31 2014 the Company derived its income from the operations of its four subsidiaries namely The Connecticut Water Company (Connecticut Water) The Maine Water Company (Maine Water) (Connecticut Water and Maine Water together referred to as Regulated Companies) Chester Realty Inc. (Chester Realty) and New England Water Utility Services Inc. (NEWUS). The Company operates through three segments: Water Activities Real Estate Transactions and Services and Rentals. The Company’s Water Activities segment includes the operations of the Regulated Companies. The Company’s Real Estate Transactions segment involves the sale or donation for income tax benefits of its real estate holdings. The Services and Rentals segment includes the operations of its unregulated companies and certain unregulated transactions within Maine Water.

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